The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-08-17
NINE DOLLARS FOR COAL.
The Startling Advance that q Dealer Pre-
diets Next Winter.

The Startling Advance that q Dealer Pre-
diets Next Winter.
Chicago Herald.
This is just the of the year when the
people think about the price of coal for the win
ter, and to enquire whether or not there is likely
to be raise in the near future. The result Of
inquiries among coal men is little less than
alarming. One year ago the price of hard coal
in Chicago Sc so. In January last it had
gone up to 81. 75 AMI So To-day the price is 81.
and the dealers declare that it will surely exceed
50 this winter. In this connection the interview
with W. Z. Rend. the coal man. will be in
structive.
due to the scarcity of transportation facilities.
There is not nearly the amount of tonnage
available for coal on the lakes this year that
there was last This is owing to the fact that
large number of vessels that were last year en-
gagged in both the coal and iron trades have this
year been working in the iron trade exclusively.
They were chartered last winter to run in the
iron ore business only. In previous years these
vessels took ore from the Lake Superior regions
and returned from Buffalo, Cleveland and other
points with hard and soft coal; this year it is
condition of their contracts that they shall not
carry back coal. As a consequence, as / have
said, the available tonnage is much less than
last year, while the other hand the demand
for bituminous coal to como by water has greatly
increased. / refer to the coal that is shipped
here from Cleveland. Toledo, Sardusky and
such points. OF course. there are not so many
vessels handle this coal. while, on the other
hand, the demand for vessels to handle hard coal
is nearly double what it year ago. Then,
again, the trunk lines of railway have this year
had unusually heavy business in the transpor
tation of general merchandise, and coal is
transported at a much lower rate than other
freights. other commodities receive the prefer
ence. The interstate-commerce law. for which
there was such popular clamor, and which has
been extolled SO highly by the railroad COM
panies, has had the effect or has been used as
a pretext, for raising the rate of through freights
for coal we'll other merchandise. AS
consequence the of coal is at least IS cents
ton higher by rail than it was last year and for
several preceding years
1.-THE consumption Of coal increases annually
by reason of the growth of population and man
ufactures, and, although there is a heavy
increased demand. there is, for tho reasons I
have stated, decreased supply, and of course,
higher prices must prevail, just IS the demand
increases There is scarcity of hard coal to-
day in Chicago, and all the large shippers are
unable to get what coal they require to fill their
orders for points west of the city. This is
year, and it is a fact that no such state of the
coal trade has existed in this city for q large
number of years It is not likely that facilities
for getting coal to this market will very soon
increase, while as tbs season advances there will
be a largely increased demand for fuel. 1t 10
plain. therefore to that prices will surely
advance and rule much higher the present sea-
son than they did last. 1t is my honest con-
viction that it is for the interest of the public
not to defer purchasing the winter supply OF
coal any further. While it is difficult matter
commodity, the present conditions will warrant
the belief that coal will before New Years. sell
for SO ton or even higher"
From all that can be gathered it would seem
that rise of Soc to 75c. will be experienced at
an early date.